MGold Resources Inc.: Corporate Update

MGold Resources Inc. (TSX VENTURE:MNI) is pleased to advise that it has entered
into discussions regarding exploration and development of an oil and gas
property in Trinidad & Tobago.


Evaluation and due diligence of the asset is in progress and further information
will be provided on completion.


MGold Resources Inc. is a Lethbridge, Alberta based corporation engaged in the
exploration for petroleum and natural gas. The Corporation's common shares are
listed on the TSX Venture Exchange under the trading symbol "MNI".


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
MGold Resources Inc.
John Squarek
President and Chief Executive Officer
403-388-0969
john.squarek@mgold.ca

Tanager Energy, Inc. (TSXV:MNI)
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